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UBS: how to trade GBP/USD?

Trade idea: Buy GBP/USD on dips to $1.6075/70 with a stop below $1.6040 and a target at 1.6150

According to analysts, the $1.5950-40 support seems to be strong. It pushes the pair back above $1.6100 as the US dollar seeks for correction. 

They recommend watching the next resistance at $1.6161 ahead of $1.6210. 

 

Chart. H4 GBP/USD

 

GBP
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